Dominos Comeback Business Case Study
I'm fascinated by their comeback from near-bankruptcy in 2008. And the 100x+ growth story is filled with a bunch of lessons for startups today.
1960: Monaghan founded Domino's pizza
2004: IPO announced
2008: Hits record low $2.83/share (near bankruptcy)
2020: Current stock at $367/share (130,000% gain)
2024: Rs 28.5 crore in Q4 FY24.
Here are the key lessons:
?? Stay obsessively focused on your core competency from Day 1: For Domino's, it was fast delivery and service. Everything else was secondary.
He spent the early days taking every action required to:
- Reduce delivery time
- Reduce cooking time
- Increase distribution
?? A catchy slogan with some skin in the game ("A Half Hour or Half Dollar Off") escalated to a full-blown guarantee:
"30 Minutes or It's Free"
?? But don't lose sight of product quality: Domino's realized in 2008 that their pizza just wasn't delicious, no matter how fast it arrived.
?? A trail of solutions that domino's applied throughout their journey is Leadership, it is about showing up: The "Our Pizza Sucks" campaign was a stroke of bold genius. Doyle embraced the negative feedback and committed to fixing the underlying issues.
?? Shake things up when needed: Most companies play it safe and fall victim to "omission bias" and "loss aversion". Doyle broke through both mental barriers.
?? Domino's reinvented its recipe, supply chain and technology over 2 years.
But the impact compounded rapidly after that.
?? Customers responded incredibly well to a brand that publicly acknowledged their failings and rapidly improved. Authenticity matters.
The result? Domino's stock is up 130,000% since its 2008 lows.
What strategy of Domino’s inspires you the most?
Let me know in the comments.
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9 个月Wow,?what an inspiring turnaround story!?Domino's really embraced the feedback and transformed themselves.?The 'Our Pizza Sucks' campaign was particularly brave but brilliant.